News Highlights: Top Company News of the Day
Ackman Has Big Win on Bearish Market Bet
William Ackman's Pershing Square just scored big on a bearish
bet that enabled him to sidestep steep market losses.
Village Super Market, Amazon Clinch Fairway Market Assets in Bankruptcy Auction
Village Super Market, which operates under banners including
ShopRite, won a bankruptcy auction for five Fairway Market stores,
including four in Manhattan, and its distribution center, while
Amazon.com snapped up leases for two stores in New Jersey.
Groupon's CEO, Chief Operating Officer Both Step Down
Rich Williams stepped down as CEO and Steve Krenzer as chief
operating, with company insider Aaron Cooper assuming the
leadership role on an interim basis.
Micron's View Is Nearsighted
The chip maker issued a strong near-term outlook, but like
others in the business world the chip maker can't forecast the
effects of the pandemic.
RBC Seeks Fire-Sale Buyers for Seized Mortgage Debt
Canada's largest bank by assets is moving to protect itself as
pain spreads through the mortgage market.
Occidental Petroleum Reaches Truce With Activist Investor Carl Icahn
Occidental Petroleum, the largest oil producer in the giant
Permian Basin, has ceded to Carl Icahn's demands and announced deep
spending cuts in a bid to survive the steepest crude-price plunge
SoftBank Dumps Moody's After a Two-Notch Downgrade
The credit rating firm gave a thumbs down to SoftBank's plan to
repurchase up to $41 billion in shares and debt, by lowering the
Japanese technology giant's credit rating and questioning the
"unexpected size and apparent urgency" of the move.
With Cinemas Shut Due to Coronavirus, Theater Chains at Risk of Default
The shutdown of movie theaters world-wide due to the coronavirus
pandemic has put cinema owners at heightened risk of default if
they are unable to reopen in several months or secure a financial
Coronavirus Boosts Target's Sales but Squeezes Profits
Target's sales of food and household goods are surging because
of the coronavirus pandemic, but it may report lower-than-expected
profits as demand falls for high-margin goods and it becomes more
expensive to clean and staff stores.
Credit Suisse Cuts Former Chief Executive's Bonus Due to Spying-Scandal Fallout
Credit Suisse Group said it docked around $2.24 million from
former chief executive Tidjane Thiam's 2019 bonus because of the
"significant impact" of last year's spying scandal on the bank's
(END) Dow Jones Newswires
March 26, 2020 03:15 ET (07:15 GMT)
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